SEGMENTING THE MATURE MARKET: HAVE MARKETERS MATURED ALONG WITH THEIR MARKET?

Marketing broadly to the "mature consumer" is a mistake (Conaway 1991). Just as "working women" or "Hispanics" are not homogeneous segments, neither are consumers over the age of 60. According to the 2010 U.S. Census, there are approximately 50 million Americans age 62...

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Bibliographic Details
Main Author: Purinton-Johnson, Elizabeth F
Format: Conference Proceeding
Language:English
Subjects:
Age groups
Baby boomers
Censuses
Consumer behavior
Consumers
Demographics
Effectiveness
Life expectancy
Market segmentation
Market segments
Market strategy
Marketing
Older people
Population
Studies
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Summary:Marketing broadly to the "mature consumer" is a mistake (Conaway 1991). Just as "working women" or "Hispanics" are not homogeneous segments, neither are consumers over the age of 60. According to the 2010 U.S. Census, there are approximately 50 million Americans age 62 and older representing 16% of the total population. This number increased by 8 million in the last 10 years. Chronological age ranges is one segmentation scheme, while cognitive age is a better predictor although it does not create easily identifiable segments. Another segmentation basis suggested has been employment. This is a study of the current wisdom and fallacies in the segmentation of older consumers. First, the demographics and segmentation schemes of the older consumer market will be presented. Finally, a study will be suggested to pursue the question of whether marketers know their mature market. [PUBLICATION ABSTRACT]
ISSN:1934-0583
1934-0583